Norwegian Minister of trade and industry Sylvia Brustad (Labour) finds herself in a bit of a pickle following the partly government-owned company Aker Solutions‘ NOK 1.39 billion acquisition of other companies in the Aker system, controlled by industrialist Kjell Inge Røkke. Acquisitions resulting in the Aker Solutions shares’ substantial drop on the stock exhanges.
These highly disputed transactions led Ms Brustad to carry out a speedy inquiry concluding that the transactions were a matter for the general assembly.
The deal is also seen as an embarrassment to the government, which came to Aker Solutions’ aid in 2007 with a capital injection to ensure the company remained in Norwegian hands and to secure jobs in Norway. Trade and Industry Minister Sylvia Brustad has called for an independent investigation.
— Reuters
In a press conference Wednesday afternoon Trade and industry minister Brustad informed the media of her intentions to nullify the deal, which in all likelihood is not about to take place.
The government’s financial loss is however not what makes the entire affair so interesting. These transactions, mere peanuts, really, have made more waves than the Pension fund’s NOK 633 billion loss, mainly because of PM Jens Stoltenberg‘s (Labour) close ties to Aker’s Kjell Inge Røkke, as well as DnB NOR bank’s CEO Rune Bjerke, whose bank incidentally carried out the companies’ valuation. These relations have raised speculations whether or not it’s all a matter of near-corruption, allowing the Aker system to load its losses onto the government – via its Aker Solutions ownership.
The opposition demands the Trade and industry minister’s resignation, but the question remains: How involved is the PM himself, known to create scapegoats and pushing his ministers up front in turbulent times, the latest example being the Minister of justice and the police Knut Storberget, committed to hospital following harsh criticism for mistakes made by the government collectively (in other words; by the prime minister)?
While accusations wave back and forth some have even dubbed Aker Solutions the Aker group’s dustbin.
The thriller, possibly resulting in a minister — if not a government’s — resignation, is expected to resound throughout Easter.
More on Aker:
Recent news coverage (in Norwegian):
- – Frykter ikke rettssak med staten
- Røkkes Aker vil stille statens representant til veggs
- Wallenberg-gransking støtter Brustad i Aker-saken
- Aker skylder på Berit Kjøll
- - Jeg og hele styret er ført bak lyset av Aker
- Denne mailen kan felle Sylvia Brustad
- Brustad får full støtte i Røkke-krigen
- Opposisjonen: – Brustad kan være ferdig som statsråd
- – Aldri blitt informert om milliardsalget
- – Jeg er ført bak lyset
- – Røkke har brutt alle spilleregler
- – Kyniske politikere utsetter Aker for stor fare
- Mener Røkke skader Aker-selskapene
- – Røkke har lurt staten
- – De kaller oss for søppelselskap, det provoserer meg voldsomt
- – Kjøll har misforstått
- Røkke ber Stoltenberg om unnskyldning
- Jens gikk god for Røkke-transaksjonene
- Røkke ber Stoltenberg om unnskyldning
- Mener staten snakker ned aksjekursen
- – Stoltenberg har mer grunn til å være irritert på Røkke nå
- Stoltenberg ikke fornøyd med Røkkes unnskyldning
Photo: Norway’s Minister of trade and industry Sylvia Brustad (Labour). Photograph from the ministry/Scanpix
røkke og aker har ikke lurt noen. men det norske folk har blitt
lurt av og tro på alle løgnene til jens og resten
Translation of last commenter’s remarks:
Later developments however, have unearthed an elaborate charade on Kjell Inge Røkke’s part.
Det er denne samme gjengen som slenger dritt mot folk som Stein E. Hagen når han flytter et par millioner mot Høyre eller Frp… jeg må bare le…